Biotech Values

[Summer2762]

I'd rather them raise at least some money here than partner 427 for paltry terms.

OGXI can do what THLD did. They can do an option to full partnership now. For example, an upfront payment (say $30M) and then if Borealis-1 is successful, another payment (say another $30M).

Here is what THLD did before the Phase 2 results instead of raising money.

Under the terms of the agreement, [...], Threshold will receive an upfront payment of $25 million and could receive up to $35 million in additional development milestones during 2012. Threshold is also eligible to receive a $20 million milestone payment based on positive results from its randomized Phase 2 trial in pancreatic cancer. Total potential milestone payments are $525 million, comprised of $280 million in regulatory and development milestones and $245 million in sales-based milestones.

Raising money at these levels is not wise in my opinion.

We'll probably get more clarity today at the CC.